Powers of public bodies in aid of local redevelopment

For the purpose of aiding and cooperating in the planning, undertaking, construction or operation of redevelopment projects located within the area in which it is authorized to act, any public body, upon the terms and with or without consideration as it determines, may: 1. Dedicate, sell, convey or lease any of its property to a redevelopment agency. 2. Cause parks, playgrounds, recreational, community, educational, water, sewer or drainage facilities, or any other works which it is otherwise empowered to undertake, to be furnished adjacent to or in connection with redevelopment projects. 3. Furnish, dedicate, close, pave, install, grade, regrade, plan or replan streets, roads, roadways, alleys, sidewalks or other places which it is otherwise empowered to undertake. 4. Plan or replan, zone or rezone any part of such area and make any legal exceptions from building regulations and ordinances. 5. Enter into agreements with the Federal Government respecting action to be taken by such public body pursuant to any of the powers granted by this chapter. Such agreements may extend over any period, notwithstanding any law to the contrary. 6. Purchase or legally invest in any of the bonds of an agency and exercise all of the rights of any holder of such bonds.